Further to the announcement made on 29 August 2022, the Board of Directors of GDB wishes to announce that Grand Dynamic Builders Sdn. Bhd. (“GDBSB”), a wholly-owned subsidiary of the Company had lifted the suspension of works for the 8 Conlay Project on 9 January 2023. Based on the Damai City Sdn. Bhd.’s (“DCSB”) instruction issued to the Architect for the forthcoming issuance of Architect’s Instruction under Clause 21.4 of the PAM Contract, GDBSB will remobilise and recommence facade work for Tower A following the receipt of partial payment towards the outstanding sums from DCSB to GDBSB pursuant to the terms of the Agreement and the supplementary correspondences. The remobilisation and recommencement of construction works for the full scope of works under the 8 Conlay Project is scheduled for early April 2023, subject to the full settlement of the outstanding sums payable to GDBSB by DCSB.
This announcement is dated 9 January 2023.